(Alliance News) - Great Western Mining Corp PLC on Tuesday said it was pleased by progress across its assets in Nevada, following several regulatory and exploration updates.
Great Western Mining is an exploration and development company focused on gold, silver and copper targets in Nevada, US. The firm's acreage tract consists of rugged, mountainous terrain, large parts of which remain "under-explored".
On the production front, Great Western noted progress in January as its 50% owned production joint venture, Western Milling LLC, attended a review meeting with the Nevada Department of Environmental Protection.
The state is responsible for regulating its proposed mill, and requested changes to Western Milling's plans at the meeting. Great Western said these were "reasonable" and "easily manageable", and has since submitted a modified plan for formal approval.
As approval is only required for operating, surface work at the mill has already started in preparation for laying concrete, scheduled for the end of the month.
Looking ahead, Great Western said that follow-up shallow drilling at the Olympic Gold project is a priority.
A track-mounted reverse circulation drill rig is currently being mobilised to the site for shallow drilling at the OMCO Mine prospect. Following initial drilling in 2022, an extension to the OMCO Mine is now believed to have been established.
Great Western said the discovery could potentially be expanded by drilling angled holes from the same permitted pad position. Drill timing will depend on weather conditions at the site, as well as crew availability.
In further news, the company has been granted a tax credit of GBP83,000 in cash, for geological work carried out between 2020 and 2021.
"We are pleased to have started work on the mill site and to have secured a drill rig for shallow drilling at the OMCO Mine prospect, a priority for the company. We welcome SP Angel as joint brokers to the company, who are planning to visit our properties in late March. With the net proceeds from the recent placing, no debt and a tax credit received, we are well-placed to progress our production project and our exploration objectives this spring," said Chair Brian Hall.
Great Western shares were trading 5.5% higher at 0.087 pence each in London on Tuesday morning.
By Holly Beveridge; Alliance News reporter
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Great Western (GWMO)